Strategic Family Wealth Counselors L.L.C. acquired a new stake in shares of Verizon Communications Inc. (NYSE:VZ) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,402 shares of the cell phone carrier’s stock, valued at approximately $753,000. Verizon Communications makes up 0.9% of Strategic Family Wealth Counselors L.L.C.’s investment portfolio, making the stock its 26th largest position.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Daiwa SB Investments Ltd. grew its stake in shares of Verizon Communications by 120.0% in the fourth quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after purchasing an additional 480 shares during the last quarter. Advisors Preferred LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth $66,000. Advocacy Wealth Management Services LLC grew its stake in shares of Verizon Communications by 25.9% in the fourth quarter. Advocacy Wealth Management Services LLC now owns 1,265 shares of the cell phone carrier’s stock worth $71,000 after purchasing an additional 260 shares during the last quarter. Mackey Komara & Dankovich LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth $86,000. Finally, Highwater Wealth Management LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth $87,000. Institutional investors and hedge funds own 66.90% of the company’s stock.
VZ opened at $58.74 on Monday. The company has a current ratio of 0.91, a quick ratio of 0.88 and a debt-to-equity ratio of 1.94. Verizon Communications Inc. has a fifty-two week low of $46.08 and a fifty-two week high of $61.58. The stock has a market capitalization of $241.73 billion, a P/E ratio of 12.47, a price-to-earnings-growth ratio of 2.62 and a beta of 0.51.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The company had revenue of $34.28 billion for the quarter, compared to analyst estimates of $34.45 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 4.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.6025 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.10%. Verizon Communications’s dividend payout ratio is presently 51.17%.
A number of brokerages have commented on VZ. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 21st. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Saturday, January 26th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Verizon Communications has an average rating of “Hold” and an average price target of $56.07.
In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $60.30, for a total value of $81,344.70. Following the completion of the sale, the executive vice president now owns 29,426 shares in the company, valued at approximately $1,774,387.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lowell C. Mcadam sold 285,988 shares of the stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the completion of the sale, the director now owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Insiders sold a total of 288,686 shares of company stock worth $16,379,639 in the last 90 days. 0.03% of the stock is currently owned by company insiders.
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Verizon Communications Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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